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Aratula's avatar
Aratula
Experienced Cover User
3 years ago
Solved

Entering Rent Received with Expenses and how it is processed through to BAS

Hi Everyone I have rent received every month, and it does not go correctly through to MYOB's BASlink the way I have tried to enter it.   I have tried through Receive Money, and also as a General J...
  • LRBooks61's avatar
    LRBooks61
    3 years ago

    Hi Kerri

     

    The best thing to do would be

     

    Receive money and record the entire rent to undeposited funds then do a spend money for the expenses to undeposited funds and then do a [repare deposit.

     

    By using the N-T code you are not reporting the income through to ATO so that may also be the issue, I hope my suggestion gives you the solution you need 

     

    Lisa

     

     

LRBooks61's avatar
LRBooks61
Ultimate Cover User
3 years ago

Hi Kerri

 

The best thing to do would be

 

Receive money and record the entire rent to undeposited funds then do a spend money for the expenses to undeposited funds and then do a [repare deposit.

 

By using the N-T code you are not reporting the income through to ATO so that may also be the issue, I hope my suggestion gives you the solution you need 

 

Lisa

 

 

Aratula's avatar
Aratula
Experienced Cover User
3 years ago

Thank you so much Lisa

 

This makes a lot of sense and is not something I have tried. 

 

Also agree the N-T code should probably be more like a gst free code in this instance, I just didnt think about it.

 

I appreciate your thoughts on this very much, I knew there had to be another way, but after all the years of using myob I tend to stick with the way I have always done it.

 

I will definitely be giving your advice a go.

Kind regards

Kerri

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